Entersekt Sets Sights on the Nordics

Entersekt,
an innovator in mobile-first fintech solutions, today announced its
entry into the competitive Nordic market. The identity and payments
enablement provider serves banks and other enterprises operating in 45
countries.

Entersekt’s interest in Scandinavia derives from its openness to digital
banking and payments innovation. Digitization may be transforming
business in every corner of the world, but few regions have experienced
the wholesale change in consumer payments behaviour that the Nordics
have.

While governments, central banks, and the banking industry as a whole
have pushed a cashless agenda for several years now, many point to
Nordic consumers’ enthusiastic adoption of cashless transacting as the
true driver behind the boom in digital payments.

Consumers in the region have never been hidebound to payments
innovation, as smart card penetration rates demonstrated years ago.
Payments-ready smartphones are, of course, everywhere and the retail NFC
infrastructure is superb. Payments apps, virtual wallets, and wearables
are used by majorities in all countries.

Swedes and Norwegians in particular lead the digital payments trend.
It’s regularly predicted that Sweden will become the first cashless
country in the world, but Jon Nicolaisen, the deputy governor of
Norway’s central bank, told an audience in London’s Guildhall in April
this year that, for all intents and purposes, his country is already
cashless.

There’s a vibrant fintech sector in the region, with several innovative
digital security firms and popular app-based payments providers like
MobilePay, Vipps, Lunar Way, Swish, and iZettle. It is rare, though, for
companies to be active in both security and payments, as Entersekt is.

Entersekt’s mobile identity platform was engineered not only to secure
sensitive digital interactions but to help service providers respond
quickly to changes in consumer payments preferences. Its product Connekt
provides banks with an ever-expanding menu of on-the-go digital payment
functionality and third-party services, which they can switch on quickly
and painlessly within their existing apps.

“Staying ahead in the race to innovate is understandably a top priority
for banks, but so is reassuring their customers that their information
is secure as they experiment with new technologies and payments
experiences,” said Frans
Labuschagne, Entersekt’s country manager for the United Kingdom and
Ireland, who is also overseeing the company’s first forays into
Scandinavia. “That’s where Entersekt excels: helping you to engage your
customers remotely in the lightest, most convenient way, without
exposing them to the risk of data theft and fraud.”

Entersekt’s operations in Scandinavia are at present managed out of
Oslo, Norway. “We are open for business,” announced Vegard Finstad and
John Anders Hoel, financial services and retail industry veterans
representing Entersekt in Scandinavia. “Following significant growth in
the other parts of Europe, the time is right for Entersekt to look north
to a region where we think it has a lot to contribute.”

About Entersekt
Entersekt is an innovator of mobile-first
fintech solutions. Financial services providers and other enterprises
rely on its patented mobile identity system to provide both security and
the best in convenient new digital experiences to their customers,
irrespective of the service channel. For more information, visit www.entersekt.com.